CHED chairman welcomes review of UP-Ayala lease contract

UP-Ayala Land Technohub — WWW.AYALALAND.COM.PH THE Commission on Higher Education (CHED) welcomed the government’s review of Ayala Land, Inc.’s (ALI) contract to develop a property of the University of the Philippines (UP) in Diliman, Quezon City. President Rodrigo R. Duterte had ordered the review for possible “onerous” provisions, Presidential Spokesperson Salvador S. Panelo told reporters on Thursday. In a statement on Friday, CHED Chairman J. Prospero E. De Vera III said he shares the concerns…

"CHED chairman welcomes review of UP-Ayala lease contract"

Airlines ordered to cancel PHL flights to and from Wuhan

Airport personnel monitor a thermal scanner as passengers arrive at the Ninoy Aquino International Airport in Pasay City, Jan. 23. — REUTERS THE Civil Aeronautics Board (CAB) has ordered the suspension of all flights linking Wuhan, China and the Philippines to protect the country from the spread of the new flu-like virus. In a statement Friday, the aviation regulator said it ordered all airlines to cancel such flights indefinitely, except those operated by Royal Air…

"Airlines ordered to cancel PHL flights to and from Wuhan"

Jollibee completes $600M bond sale

REUTERS JOLLIBEE Foods Corp. (JFC) has completed its dollar bond market debut with the issuance of $600-million guaranteed senior perpetual capital securities by its wholly-owned subsidiary Jollibee Worldwide Pte. Ltd. (JWPL). In a disclosure to the stock exchange Friday, the listed restaurant company said the transaction was completed on Thursday after proceeds were credited to JWPL’s account. The securities are scheduled for listing at the Singapore Exchange Securities Trading Ltd. on Friday. “This transaction represents…

"Jollibee completes $600M bond sale"

SEC warns public against two ‘Billford’ investment schemes

THE Securities and Exchange Commission (SEC) is warning the public against investing in Billford Trading Co. and Bill Ford VIP Trading, Inc., which it found were violating the Securities Regulation Code. In an advisory posted on its website Thursday, the country’s corporate regulator said the two companies are operating without the necessary registration and licenses to solicit investment. “[T]he public is hereby advised to stop investing in the investment scheme being offered by the said…

"SEC warns public against two ‘Billford’ investment schemes"

PhilWeb expects profitable year, in talks to acquire firm’s online gaming business

PHILWEB CORP. is looking to seal a strategic partnership with an online gaming operator as it expects to return to profitability this year. Crisanto Roy B. Alcid, vice-chairman of the listed gaming firm, told reporters Wednesday PhilWeb is in talks with a local firm to acquire its gaming operations. “What’s exciting this year is… we’re working with a new group on a strategic partnership to hopefully grow both the e-games business and the e-bingo business.…

"PhilWeb expects profitable year, in talks to acquire firm’s online gaming business"

MRT-3 ticket sales, rider count further fall as repairs continue

BW FILE PHOTO By Arjay L. Balinbin, Reporter METRO RAIL Transit (MRT)-3’s number of passengers and collection from ticket sales fell further in 2019 as the railway system undergoes rehabilitation to increase its capacity by July 2021. Collection from ticket sales fell by 7.7% to P1.91 billion last year while ridership in the Baclaran-North Ave. line dropped by 7.1% to 96.93 million, latest data from the Department of Transportation (DoTr) show. The figures were provided…

"MRT-3 ticket sales, rider count further fall as repairs continue"

AirAsia set to fly to Zamboanga, General Santos and Dumaguete

PHILIPPINES AirAsia, Inc. is set to launch three more domestic routes this year in response to the growing volume of passengers in Zamboanga City, General Santos City, and Dumaguete City. A news release on Wednesday from the city government of Zamboanga quoted the company’s chairman, Joseph Omar A. Castillo, as saying that the low-cost carrier is opening its services in the city because it believes in the leadership of the local officials. “We believe in…

"AirAsia set to fly to Zamboanga, General Santos and Dumaguete"

Hyundai reports 6% fall in car sales last year

HYUNDAI Asia Resources Inc. (HARI) car sales dropped 6.1% in 2019 after participating in fewer market segments. In a statement, the Hyundai distributor said car sales last year reached 33,763 units compared with 35,401 units in 2018. The company said the decline is “mainly due to the company’s non-participation in some market segments, such as that of the Pick-ups.” Sales have not recovered from the effects of vehicle taxes implemented at the beginning of 2018,…

"Hyundai reports 6% fall in car sales last year"